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PRESNTATION ON VISION AND MISSION STATEMENT OF LIC

PRESNTATION ON VISION AND MISSION STATEMENT OF LIC

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  • 1.
  • 2. INTRODUCTION<br />Life Insurance Corporation of India (LIC) is a Government of India enterprise, and is said to be the largest life insurance company and also the largest investor of the country. LIC had been established on the 1st of September, 1956, after the Life Insurance Corporation Act had been passed by the Parliament of India in the same year. The corporation is aimed at providing life insurance services primarily to the rural masses and the socially & economically backward sections of the Indian society. It also aims at promoting the people for saving their money, and offers attractive savings features along with various insurance policies.<br />
  • 3. HEADQUATERS<br />The head quarter of life insurance cooperation of India are located in MUMBAI and as of April 2009 it has 8 zonal offices,101 divisional office and 2048 branch located in different town cities of India. Along with work force of 1.4 lac employees serving the institution.<br />
  • 4. Members On The Board Of The Corporation Shri. T.S. Vijayan (Chairman) Shri. D.K. Mehrotra (Managing Director - LIC) Shri. Thomas Mathew T. (Managing Director - LIC) Shri. A.K. Dasgupta (Managing Director - LIC) Shri R. Gopalan (Secretary, Department of Economic Affairs, Ministry of Finance, Govt. of India) Shri Shashi Kant Sharma (Secretary, Department of Financial Services,Ministry of Finance, Govt. of India)<br />
  • 5. MAIN AIM’S OF LIC<br />BASIC SAFETY<br />MONEY BACK<br />BETTER LIFE<br />INCREASE THE INCOME<br />HELP AFTER RETIERMENT<br />HELP POOR PEOPLE<br />
  • 6. HISTORYThe story of insurance is probably as old as the story of mankind. Life Insurance in its modern form came to India from England in the year 1818. The Parliament of India passed the Life Insurance Corporation Act on the 19th of June 1956, and the Life Insurance Corporation of India was created on 1st September, 1956, with the objective of spreading life insurance much more widely.From then to now, LIC has crossed many milestones and has set unprecedented performance records in various aspects of life insurance business.<br />
  • 7. LIC IS NO.1 IN RANKED<br />LARGEST NO. OF POLICIES 27 CR.<br />LARGEST MARKET SHARES 1155000 CR.<br />LARGEST NETWORK OF 2048 BRANCH.<br />LARGEST AGENCY FORCE.<br />HUGE LIFE FUND AND ASSETS.<br />1050 SATELITE OFFICES.<br /> MORE THAN 10 CR. FUND.<br />
  • 8. WHAT LIC LOOK IN YOU<br />YOU ENJOY METTING PEOPLE.<br />YOU ARE PREFERABLE 12th PASSED.<br />OVER 18 YEARS OF AGE.<br />
  • 9. Mission"Explore and enhance the quality of life of people through financial security by providing products and services of aspired attributes with competitive returns, and by rendering resources for economic development."<br />
  • 10. Vision"A trans-nationally competitive financial conglomerate of significance to societies and Pride of India."<br />
  • 11. COMPETITOR<br />HDFC STANDARD LIFE INSURANCE<br />ICICI PRUDENTIAL LIFE INSURANCE<br />MAX NEW YORK LIFE INSURANCE<br />BAJAJ ALLIANZ LIFE INSURANCE<br />
  • 12. OBJECTIVES 1: Spread Life Insurance widely and in particular to the rural areas and to the socially and economically backward classes with a view to reaching all insurable persons in the country. 2: Maximize mobilization of people's savings by making insurance-linked savings adequately attractive. 3: Conduct business with atmost economy and with the full realization that the money belong to the policy holders. <br />
  • 13. 4:Act as trustees of the insured public in their individual and collective capacities. 5: Meet the various life insurance needs of the community that would arise in the changing social and economic environment. 6: Involve all people working in the Corporation to the best of their capability in furthering the interests of the insured public by providing efficient service with courtesy.<br />
  • 14. CATEGORIES OF LIC<br />CHILDRENS PLANS<br />ENDOWMENT PLAN<br />MONEY BACK<br />WHOLE LIFE<br />PENSION PLAN<br />HEALTH PLAN<br />OTHER PLAN<br />GOLDEN JUBLIEE<br />ULIP PLAN<br />WOMEN PLAN<br />

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